By Susanna Rust2021-04-29T11:15:00+01:00
Local authority pension pooling vehicles Brunel Pension Partnership and London CIV have launched new private market funds with commitments from their pension fund clients totalling £1.7bn (€1.96bn).
Brunel is working with Aksia, a specialist research and advisory firm, to build a bespoke portfolio of funds targeting corporate direct lending strategies in Europe and North America.
Pension funds served by Brunel have committed £945m to the pooled fund.
Brunel will make six to eight primary fund commitments to specialist direct lenders. The “Cycle 2” vehicle has already made one commitment to a Europe-focussed fund, ICG Senior Debt Partners IV, and Brunel said a second commitment, to a US-focussed manager, “is expected to follow close on its heels”.